c. Minimum required coverage effective with acceptance of delivery by Lessee: 

 Hull All Risks $$11,000,000 (the “Insured Value”); Lessee and Lessor agree to negotiate in good faith to periodically adjust the Insured Value
to reflect the current fair market value of the Aircraft; 

 Public Liability Insurance, including third-party liability $ 200,000,000; and


 Deductible $500,000. 

 d. In
the event of any insurance claims, all deductible amounts are to be paid by Lessee. 

 e. Lessee’s broker will notify Lessor and
Lessor’s Lender no less than thirty (30) days in advance of any lapse in coverage (ten days for nonpayment of premium), however caused, or any material adverse change in coverage. Further, in the event of non-payment of premiums, Lessor
may make any premium payments required to ensure that coverage is not interrupted, and any payments so made hereunder shall be payable forthwith by Lessee to Lessor. 

  


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